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50% retraces to test broken resistance as new support is healthy in a sustainable uptrend. A/D supports the bullish flag and it appears a new channel is becoming established on many of my charts. The old one was so steep it was unrealistic to be sustainable.
No annotations needed on the weekly against the 34MA.
Your charts and commentary are always so well thought out and logical. Buy at support in an uptrend and sell at resistance in a down trend. Who would have thunk it!
But determining what those support/resistance levels is where the artistry lies. In any case, your charts/comments are always appreciated.
Much appreciated. The best we can do is correctly identify the trend – up, down, or rangebound and pick what appear to be logical S/R levels. I’ve been buying as much as I could under $23 GDX the past few days. I wasn’t prescient enough to know GDX would dip into the $21s today but I left enough dry powder to buy as I could.